I once wrote a blog post about why we should start calling our industry “social media” instead of “social networking.” That's how long I've worked in social.

My suggestion at the time was simple. Social media was about the content, the creative. Social networking defined the technology and the consumer need.

For marketers, social media was the correct term.

Every major company has a social media presence today. It’s a significant and growing industry with over half a million people working in social globally.

At some large brands, social is a major investment with dozens, if not hundreds, of team members working across multiple brands, countries, and departments.

That’s one way to measure the growth of the industry. Social media professionals are being hired more often and slowly but surely given more resources.
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Over-Invest In Social

But, there is still something missing. Still this sense that social media teams are not taken as seriously inside of companies. Or given the resources they need.

I think part of that comes from a lack of vision. There are many corporate leaders that still don’t realize the scale of what social media can accomplish.

In short, more brands need to over-invest in social. It’s not just about hiring 1 to 5 people to post to Instagram and schedule some Tweets. It’s about aggressively building a brand through the most intimate marketing channel available to brands.

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Big Dollars + Big Vision

This doesn’t mean every business out there needs to hire 50 people to work on social. It means the vision of what you can accomplish needs a new ceiling.

One example in the wild is Cash App. When Square launched their mobile payment provider, Venmo was the leader in the space. Venmo has a decent social presence today. They product above average content. But Cash App has consistently invested in big growth campaigns on social and creative giveaways that drive their brand awareness.

They regularly get over 50,000 comments on an Instagram post. Those are massive numbers.

Cash App has been slowly catching up with Venmo. And in many ways, pulling past them.

If you look at Google search trends over the last 5 years, Cash App has overtaken Venmo in US search volume. That’s no easy feat. And they’ve done it largely through big social and content investments.

Another finance brand I see investing in social in a big way is Chime Bank. They’re producing clever content on social, at scale. And in a space, retail banking, where their competitors take very little risks.

If you look at PNC Bank, who 10 years ago was a leading challenger brand in the space, their Google search volume is somewhat flat and starting to decline, while Chime is quickly gaining steam.

More and more brands over-investing in social over the last 2-3 years. It feels like a shift. They have the vision. They understand how personal the medium can be and its strength as a brand awareness tool.

However, it is STILL more common to look at social media as one of many communication tools. Checking a box. One arrow in a quiver.

I see the potential for that to change.

Brands are beginning to take more chances and invest more heavily in social creative and social talent. As more brands like Cash App and Chime drive real brand growth with social, their competitors are have no choice but to take notice.

What does it take for a brand to make the leap from just checking a box to over-investing in social? The first thing it takes is leadership. And we’re seeing more of those leaders every day.

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To big ideas,

Jason

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PS. Grab your ticket to Social Fresh Conference today and get a free 30-minute strategy call with me. I’ll make sure we use that time efficiently, focused on helping you with a challenge you're still trying to solve.

The strategy call combined with 3-days of actionable training and networking is the perfect way to reignite your social media. Get the support, ideas, and energy you need. Available until June 1st.